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Not What They Had in Mind: A History of Policies that Produced the Financial Crisis of 2008

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Not What They Had in Mind: A History of Policies that Produced the Financial Crisis of 2008

4.85 52,644 ratings · 7,903 reviews
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Overview: The roots of the 2008 financial crisis go back several decades. Could the catastrophe have been prevented? More important, how can we ensure nothing like it ever happens again? In this study, economist Arnold Kling presents a short but thorough history of financial markets and regulations as they pertain to the crisis. He looks at the role that housing policy, capital regulation, industry structure, innovation, and monetary policy played in creating the bad bets, excessive leverage, domino effects, and 21st-century bank runs that characterized the crisis. This study draws meaningful lessons for anyone who wants to understand how the financial crisis came into being, why its impact was so devastating, and what policymakers should be thinking about as they redesign the financial regulatory system. About the authorArnold S. Kling is a founder and co-editor of EconLog. He received his Ph.D. in economics from the Massachusetts Institute of Technology. Kling worked as an economist in the Federal Reserve System from 1980 to 1986 and as a senior economist at Freddie Mac from 1986 to 1994. He started, developed, and sold Homefair.com from 1994 to 1999. Kling is a member of the Financial Markets Working Group of the Mercatus Center at George Mason University. He teaches statistics and economics at the Berman Hebrew Academy in Rockville, Maryland. He is the author of several books, including From Poverty to Prosperity: Intangible Assets, Hidden Liabilities, and the Lasting Triumph over Scarcity, Crisis of Abundance: Rethinking How We Pay for Health Care, and Invisible Wealth: The Hidden Story of How Markets Work.

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Book details & editions

ISBN
17183688
Publisher
Mercatus Center at George Mason University
Publication date
September 1, 2009
Language
En-GB
Pages
60 pages
Reading Options
PDF · EPUB · Mobi
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Arnold Kling writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Arnold Kling lives with their spouse and a very vocal rescue cat.

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Carol Adams
Carol Adams February 16, 2024
I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
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I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
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I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
Melissa Diaz
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Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
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Anthony Diaz
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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Dorothy Wright
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A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
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Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
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I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
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Steven Reyes February 28, 2024
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Donald Rodriguez
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I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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Michelle Martin September 28, 2025
Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Sharon Nguyen
Sharon Nguyen January 16, 2025
I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
Robert Brown
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Amanda Sanchez
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Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Anthony Diaz
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A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Jessica Scott
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A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend.
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A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
Emily Johnson
Emily Johnson April 10, 2024
I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes.
Betty Miller
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I find myself somewhat conflicted. Certain acts were fascinating, while others felt like a slight endeavor to complete. Unlikely to reread, but a reasonable expenditure of time.
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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Deborah Taylor
Deborah Taylor July 20, 2025
I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
Sarah Williams
Sarah Williams February 12, 2025
I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me.